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Corporate Transparency Act Corporate Counsel Anti-Money Laundering

Seyfarth Shaw LLP

FinCEN’s October 2024 Beneficial Ownership Information FAQ Update

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On October 3, 2024, the Financial Crimes Enforcement Network (FinCEN) issued new guidance concerning the Corporate Transparency Act (CTA) by updating and expanding on the Beneficial Ownership Information (BOI) Reporting...more

BCLP

CTA and Corporate Governance: A Quick Guide for Situations Where CTA Comes into Play

BCLP on

The Corporate Transparency Act (“CTA”) was enacted by The U.S. Congress in January 2021 as a way to protect the United States financial system from being used for money laundering and other illicit activities....more

WilmerHale

Corporate Transparency Act: First Wave of Required Reports Due Starting on March 31, 2024

WilmerHale on

As we have previously reported, the Corporate Transparency Act (“CTA”) is a broad anti-money laundering law intended to assist law enforcement in combating illicit financial activity. The CTA’s beneficial ownership reporting...more

Ballard Spahr LLP

Federal District Court Ruling: The CTA is Unconstitutional

Ballard Spahr LLP on

On March 1, Judge Liles C. Burke of the Northern District of Alabama issued a Memorandum Opinion (“Opinion”) and Final Judgment, finding that the Corporate Transparency Act (“CTA”) is unconstitutional....more

Polsinelli

FinCEN Publishes Updated FAQs to Assist in Reporting Compliance

Polsinelli on

The Financial Crimes Enforcement Network (“FinCEN”) recently published updates to its list of Frequently Asked Questions (“FAQs”) to assist entities in complying with the beneficial ownership reporting requirements of the...more

Kelley Drye & Warren LLP

Instructions for Filing Beneficial Ownership Information Reports under the Corporate Transparency Act

On January 1, 2024, the new beneficial ownership information reporting requirements (BOIR) went into effect under the Corporate Transparency Act (CTA). Among other things, beneficial ownership reporting is intended to make it...more

Smith Gambrell Russell

What Everyone Needs to Know About the Corporate Transparency Act (Whether or Not a Corporation!)

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In January 2021, Congress enacted the Corporate Transparency Act (“CTA”), which is intended to bring the U.S. into compliance with international anti-money laundering standards. It will primarily achieve this by requiring...more

Best Best & Krieger LLP

What You Need to Know About the U.S. Corporate Transparency Act

Practical Issues for Entity Management - The Corporate Transparency Act (CTA) is new legislation passed by Congress as part of the Anti-Money Laundering Act of 2020. This legislation sets forth uniform beneficial ownership...more

Sands Anderson PC

Corporate Transparency Act: The Coming Federal Reporting Requirements for Smaller Businesses

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More regulatory requirements are coming from the federal government for small to mid-sized businesses. Other than tax filing requirements, such as obtaining a tax ID number or possible securities filings, the federal...more

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